1. Summary Information
|
|
|
Country |
|
|
Company Name |
IDEAL CURES PRIVATE LIMITED |
Principal Name 1 |
Mr. Suresh Rukmand Pareek |
|
Status |
Good |
Principal Name 2 |
Mrs. Veena Suresh Pareek |
|
|
|
Registration # |
11-48150 |
|
Street Address |
Elecon Chambers, 6th Floor, Behind Sakinaka Telephone
Exchange, A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
||
|
Established Date |
18.07.1988 |
SIC Code |
-- |
|
Telephone# |
91-22-66764491/92/93/94/ 28501245 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-66764495 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Instacoat Ready Mix Film Coating Material |
|
|
# of employees |
Approximately 80 |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
6,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors
(100.00%) |
Banking |
HDFC Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
23 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
|
Sun Systems Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
175,400,000 |
Current Liabilities |
22,425,000 |
|
Inventories |
68,877,000 |
Long-term Liabilities |
159,863,000 |
|
Fixed Assets |
244,507,000 |
Other Liabilities |
21,372,000 |
|
Deferred Assets |
000 |
Total Liabilities |
203,660,000 |
|
Invest& other Assets |
25,587,000 |
Retained Earnings |
304,711,000 |
|
|
|
Net Worth |
310,711,000 |
|
Total Assets |
514,371,000 |
Total Liab. & Equity |
514,371,000 |
|
Total Assets (Previous Year) |
349,437,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
348,403,000 |
Net Profit |
89,228,000 |
|
Sales(Previous yr) |
299,992,000 |
Net Profit(Prev.yr) |
86,271,000 |
MIRA
INFORM REPORT
|
Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
IDEAL CURES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Elecon Chambers, 6th Floor, Behind Sakinaka Telephone
Exchange, A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
18.07.1988 |
|
|
|
|
Com. Reg. No.: |
11-48150 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24239Mh1988PTC048150 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Instacoat ready mix film coating material
for Pharmaceutical, Neutraceutical, Ayurvedic and Herbal Industry |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having fine track.
Financial position of the company appears to be sound. However trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade term and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Elecon Chambers, 6th Floor, Behind Sakinaka Telephone Exchange,
A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-66764491/92/93/94/ 28501245 |
|
Fax No.: |
91-22-66764495 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plat No.24, Sector – 2, The Vasai Taluka Industrial Co-op Society
Limited, Gauraipada, Vasai (East), Thane – 401208, |
|
Tel. No.: |
91-250-2456701/ 702/ 703 |
|
Fax No.: |
91-250-2452954 |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Suresh Rukmand Pareek |
|
Designation : |
Director |
|
Address : |
B/503, Mansarover, |
|
Date of Birth/Age : |
10.04.1957 |
|
Date of Appointment : |
20.11.1998 |
|
DIN No.: |
00757066 |
|
|
|
|
Name : |
Mrs. Veena Suresh Pareek |
|
Designation : |
Director |
|
Address : |
B/503, Mansarover, |
|
Date of Birth/Age : |
03.01.1961 |
|
Date of Appointment : |
02.05.2001 |
|
DIN No.: |
00756339 |
|
|
|
|
Name : |
Mr. Shrikant Jagdish Prasad Tibrewala |
|
Designation : |
Director |
|
Address : |
503, Panchsheel, Gokuldham, Goregaon (East), Mumbai – 400063, |
|
Date of Birth/Age : |
22.06.1958 |
|
Date of Appointment : |
04.08.1994 |
|
DIN No.: |
00197891 |
|
|
|
|
Name : |
Mr. Ramakant Jagdish Prasad Tiberewala |
|
Designation : |
Director |
|
Address : |
603, Panchsheel, Gokuldham, Goregaon (East), Mumbai – 400063, |
|
Date of Birth/Age : |
21.09.1956 |
|
Date of Appointment : |
20.07.1994 |
|
DIN No.: |
01237898 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Equity Shares |
|
|
|
|
|
|
|
Brijesh Tibrewala |
|
17500 |
|
Mahesh Tibrewala |
|
12500 |
|
Dipesh Tibrewala |
|
12500 |
|
Harsh Tibrewala |
|
12500 |
|
Suresh Pareek |
|
100000 |
|
Veena Pareek |
|
75000 |
|
Annapura Tibrewala |
|
5500 |
|
Brijesh Tibrewala HUF |
|
10000 |
|
Dipesh Tibrewala HUF |
|
3000 |
|
Harsh Tibrewala HUF |
|
9500 |
|
Jagdesh Tibrewala |
|
5000 |
|
Ramakant Tibrewala |
|
26000 |
|
Sushma Tibrewala |
|
9000 |
|
Shrikant Tibrewala |
|
2000 |
|
Roha Dyechem Limited |
|
75000 |
|
Suresh Pareek HUF |
|
25000 |
|
|
|
|
|
Total |
|
400000 |
|
|
|
|
|
Preference
Shares |
|
|
|
|
|
|
|
R. S. Global Infotech Limited |
|
20000 |
|
|
|
|
|
Total |
|
20000 |
Equity Share Break-up As on 30.092010
|
Category |
|
Percentage
|
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Instacoat Ready Mix Film Coating Material
for Pharmaceutical, Neutraceutical, Ayurvedic and Herbal Industry |
GENERAL INFORMATION
|
Customers : |
Manufacturing Unit |
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No. of Employees : |
Approximately 80 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Agarwal Chartered Accountant |
|
Address : |
28/A, Khandke Building No. 9, R.K. Vaidya Road, Dadar (West),
Mumbai-400028, Maharashtra, India |
|
Tel No.: |
91-22-22911668 |
|
Fax No. : |
91-22-26105744 |
|
Email ID : |
|
|
|
|
|
Associates: |
Sun Systems Company Limited Address : 166-4, Maha-ri, Bondam-eup, Hwasung-City, Gyeonggi-do,
445892, Tel No. : 82-31-227-8966 Fax No. : 82-31-227-8977 Email : shk@sunsystem.co.kr Zi-Tech Solutions Limited Address : AF – ZETA INC, 163, Tel No. : 973-267-2205 Fax No. : 973-267-2208 Email : dwl@af-zeta.com Business Point Limited Address : Tel No. : 880-2-8313298/8321712 Fax No. : 880-2-8321255 Email : bizapoint@bangla.net
Trans World Enterprises Address : HC – 35, Central Commercial Area, Bahadurabad, Tel No. : 92-21-4936538/4931802 Fax No. : 92-21-4939356 Email : transw@cyber.net.pk Biotec Solution Limited Address : Unit – 19, Tel No. : 61-2-98972699 Fax No. : 61-2-98972698 Email : biotecsolutions@tpg.com.au |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
25000 |
Preference Shares |
Rs.100/- each |
Rs.2.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
|
20000 |
Preference Shares |
Rs.100/- each |
Rs.2.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.6.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.000 |
6.000 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
304.711 |
215.636 |
131.538 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
310.711 |
221.636 |
137.538 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
45.759 |
1.027 |
1.204 |
|
|
2] Unsecured Loans |
114.104 |
100.933 |
85.053 |
|
|
TOTAL BORROWING |
159.863 |
101.960 |
86.257 |
|
|
DEFERRED TAX LIABILITIES |
6.680 |
8.117 |
8.692 |
|
|
|
|
|
|
|
|
TOTAL |
477.254 |
331.713 |
232.487 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
244.507 |
62.569 |
63.113 |
|
|
Capital work-in-progress |
1.876 |
31.909 |
18.855 |
|
|
|
|
|
|
|
|
INVESTMENT |
23.711 |
6.176 |
3.615 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.877
|
58.465
|
41.685
|
|
|
Sundry Debtors |
128.293
|
94.880
|
81.077
|
|
|
Cash & Bank Balances |
20.638
|
74.790
|
32.249
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
26.469
|
20.648
|
8.646
|
|
Total
Current Assets |
244.277
|
248.783
|
163.657
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.331
|
6.039
|
5.893
|
|
|
Other Current Liabilities |
2.094
|
4.122
|
4.187
|
|
|
Provisions |
14.692
|
7.563
|
6.673
|
|
Total
Current Liabilities |
37.117
|
17.724
|
16.753
|
|
|
Net Current Assets |
207.160
|
231.059
|
146.904
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
477.254 |
331.713 |
232.487 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
348.403 |
299.992 |
214.451 |
|
|
|
Other Income |
14.554 |
10.715 |
4.085 |
|
|
|
TOTAL (A) |
362.957 |
310.707 |
218.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Expenses |
155.629 |
118.225 |
100.697 |
|
|
|
Personnel Expenses |
26.126 |
20.274 |
14.979 |
|
|
|
Administrative and Selling and Distribution Expenses |
49.814 |
38.764 |
33.966 |
|
|
|
Accretion/ Decreation in Stock |
[2.987] |
1.062 |
[6.547] |
|
|
|
TOTAL (B) |
228.582 |
178.325 |
143.095 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
134.375 |
132.382 |
75.441 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.663 |
12.989 |
10.213 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
121.712 |
119.393 |
65.228 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.648 |
8.415 |
9.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
107.064 |
110.978 |
56.101 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
17.836 |
24.707 |
15.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
89.228 |
86.271 |
40.983 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
215.636 |
131.538 |
91.969 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preference Dividend |
0.100 |
0.100 |
0.100 |
|
|
|
Corporate Tax on Dividend |
0.017 |
0.017 |
0.017 |
|
|
|
Assessment tax paid |
0.000 |
2.055 |
0.018 |
|
|
|
Provision for gratuity |
0.000 |
0.000 |
1.279 |
|
|
BALANCE CARRIED
TO THE B/S |
304.747 |
215.637 |
131.538 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.005 |
49.389 |
1.796 |
|
|
TOTAL EARNINGS |
3.005 |
49.389 |
1.796 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import Value |
3.275 |
19.380 |
1.600 |
|
|
TOTAL IMPORTS |
3.275 |
19.380 |
1.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
223.00 |
210.00 |
99.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
24.58 |
27.77 |
18.75
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.73 |
36.99 |
26.16
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.90 |
35.64 |
24.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.50 |
0.50
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.63 |
0.54 |
0.54
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.58 |
14.04 |
14.04
|
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
- Sun Systems Company
Limited
- Zi-Tech
Solutions Limited
Note:
The Registered Office of the company has been shifted from 80/81, M V
Road, Sakinaka, Andheri (East), Mumbai – 400059, Maharashtra, India to the
present address i.e. Elecon Chambers, 6th Floor, Behind Sakinaka
Telephone Exchange, A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra,
Operations:
The total profit of the company for the year March 31, 2010 is Rs.
89.075 Millions as compared to profit of Rs. 84.099 Millions for the year ended
March 31, 2009.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24239Mh1988PTC048150 |
|
Name of the
company |
IDEAL CURES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Elecon Chambers, 6th Floor, Behind Sakinaka Telephone
Exchange, A. K. Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
West, Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum Recording
Past Transaction of Mortgage by Delivery of Title Deeds |
|
Date of
instrument Creating the charge |
28.06.2010 |
|
Amount secured by
the charge |
Rs. 62.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the bank form time to time Terms of
Repayment On Demand Margin As may be
stipulated by the bank from time to time Extent and
Operation of the charge The company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as stated under Item No. 15 as security for the due
repayment of Rs. 62.500 Millions by the company, including principal amount
of the Facility, liquidated damages, costs, charges and expenses etc. |
|
Short particulars
of the property charged |
Immovable
properties situated at Unit No. A-223, 2nd Floor, Immovable
properties situated at Unit No. 224/A, 2nd Floor, Immovable
properties situated at Unit No. 225/A, 2nd Floor, Immovable
properties situated at Unit No. A/226, 2nd Floor, Immovable
Properties situated at Unit No. A/227, 2nd Floor, Immovable
properties situated at Unit No. A/228, 2nd Floor, Immovable
properties situated at Unit No. A/229, 2nd Floor, |
Fixed Assets:
- Goodwill
- Plant and Machinery
- Furniture and Fixtures
- Computers
- Vehicles
- Typewriter
- Franking Machine
- Air Conditioners
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 45.58 |
|
|
1 |
Rs. 72.79 |
|
Euro |
1 |
Rs. 62.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.